A casino game developer, supplier and one of the world’s leading brands in iGaming; NetEnt, has today spoken out against Swedish authorities for the introduction of new gambling legislation at the start of 2020, which is proving to be bad for business with a drop in both customer numbers and revenue.
Chief executive officer of NetEnt Therese Hillman said:
“In Sweden, which has previously been our largest market, a licensing system and new regulations were introduced at the beginning of the year, which changed the rules of the game for the entire sector. For example, a ban on bonuses was introduced for existing players, which is basically a kind of price regulation that has resulted in a lower channelisation rate than we had hoped for. The revenue drop in Sweden had a significantly negative effect on our total revenues for the year. Under the new regulations, it is illegal to play at unlicensed operators or offer uncertified games, but suppliers are not subject to a licensing requirement.”
Hillman continued to criticise the nation’s regulator and commented on improvements that could be made:
“As a supplier, we would welcome the introduction of B2B licenses since this would raise the demands on us and our competitors, demands that all serious suppliers can and should meet. It is therefore our hope that the legislation will change in the future to calibrate its intended effects, create fairer conditions for all participants on the market, and lead to a higher channelisation rate.”
Therese Hillman, who has worked at the firm for more than three years elaborated on how the industry is constantly evolving and what other nations are doing to drive forward:
“The USA is now becoming one of our largest markets, and there are favourable conditions in place for continued growth in 2020. The online gaming market in New Jersey grew by more than 60 per cent during the year compared to the previous year. In addition, the market for online gaming opened in Pennsylvania in July, and we launched our games with operators there directly from the start. We are waiting for more information from Michigan and we intend to enter that market as soon as it opens, which is expected to happen in 2021”
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